WESTBRIDGE RNWBL ENRG CRP - WEGYF STOCK NEWS

Westbridge Renewable has closed the sale of its 75% owned, 332MWp Sunnynook Solar Project in Alberta to METLEN Energy & Metals. The transaction, completed through the sale of Sunnynook Solar Energy Inc. shares, yielded C$41,440,385 at closing, representing 92% of the estimated purchase price, with the remaining balance due upon commercial operations. Westbridge repaid C$18,405,650 in loan facilities from the proceeds. The company retains ownership of three other Alberta subsidiaries also under share purchase agreements with METLEN. The Sunnynook project, when completed, is expected to power over 50,000 Alberta homes.

Westbridge Renewable Energy (TSXV: WEB, OTCQX: WEGYF) has provided an update on its development portfolio. The company has announced definitive agreements to sell 5 Alberta utility-scale Solar PV and BESS projects, totaling over 1.4 GW, to strategic partner Metlen Energy & Metals. The Georgetown Project sale closed in December 2023, bringing in more than $40M in non-dilutive cash.

Progress updates were provided for the remaining 4 Alberta projects: Sunnynook Solar (270 MWac), Dolcy Solar (300 MWac), Eastervale Solar (300 MWac), and Red Willow Solar (225 MWac). The company also has over 1GW of early-stage solar + storage projects under evaluation in Alberta and Ontario.

Internationally, Westbridge has projects in the USA (Accalia Point, 190 MWac), UK (Fiskerton, 53 MWac), and Italy (Gierre Solare, 32 MW and NM Solare, 30MW). The company remains positive about the clean energy sector, citing easing macro headwinds and accelerating demand for clean power.

Westbridge Renewable Energy (TSXV: WEB, OTCQX: WEGYF) has received approval from the Alberta Utilities Commission for its Dolcy Solar + Energy Storage Project. This marks the company's third Alberta project to obtain AUC approval. The Dolcy Project includes:

• A solar power plant with up to 300 MWac capacity
• Battery storage (BESS) with up to 200 MWh capacity
• The Dolcy 1148S Substation

Located in the Municipal District of Wainwright, Alberta, the project is expected to power over 72,000 Alberta homes once operational. Westbridge's COO, Maggie McKenna, highlighted the project's potential for clean energy production, agricultural productivity, and job creation through agrivoltaics. The company's international portfolio now includes more than 18 projects across four countries.

Westbridge Renewable Energy has provided a corporate update emphasizing several key achievements and future plans. The sale of the Georgetown project brought in over $40 million in non-dilutive cash, supporting global project expansion and capital return to shareholders. Management highlighted their recognition in the TSX Venture 50 and OTCQX Best 50 rankings.

The company has declared a cash distribution of C$0.10 per share and initiated a share repurchase program for up to 5% of its outstanding shares. Portfolio updates include significant progress on solar PV and BESS projects in Canada, the U.S., UK, and Italy. The Sunnynook project in Canada is expected to close in Q4 2024, with other projects following in 2025.

Westbridge has secured land rights for future projects expected to be shovel-ready by 2026 and 2027. The company is optimistic about the macro environment, with easing headwinds and increasing demand for clean energy boosting project economics and deal flow.

Westbridge Renewable Energy Corp. (TSXV: WEB, OTCQX: WEGYF, FRA: PUQ) has engaged Joshua Cohen of Westbury Capital Group and Paul Adams as investor relations advisors for a six-month initial term starting May 27, 2024. The services include corporate communications, shareholder engagement, news release drafting, and social media management. Each consultant will receive a monthly fee of $3,000 and 50,000 options with a $1.00 exercise price, valid until May 27, 2027. The agreements are subject to TSX Venture Exchange approval.

Westbridge Renewable Energy Corp. has announced a cash distribution of C$0.10 per share, following the conclusion of the Georgetown Solar Project. The distribution is aimed at rewarding shareholders and will be payable on June 21, 2024, to shareholders of record as of June 7, 2024. This distribution is classified as a return of capital, and shareholders are advised to seek independent tax advice. Westbridge is a pure-play Canadian solar development company with a portfolio of utility-scale solar PV projects in Canada, the U.S., the UK, and Europe. The company aims to deliver long-term returns through the development of renewable assets and has a strong track record with over 40 projects developed worldwide.

Westbridge Renewable Energy (WEGYF) initiates a normal course issuer bid program to repurchase up to 5% of its outstanding shares, aiming to enhance shareholder value.

Westbridge Renewable Energy Corporation (WEGYF) has achieved top rankings in the Clean Tech & Life Sciences sector by being named to the TSX Venture 50 for the second consecutive year. The company's market capitalization more than doubled, with a 95% share price appreciation in 2023. Westbridge's success is attributed to exceptional leadership and successful business plan execution, highlighted by significant deals and project developments.

Westbridge Renewable Energy Corp. (WEGYF) expands its portfolio into Europe with the origination of two new solar projects in Italy, Gierre Solare Project and NM Solare Project, with a projected capacity of 32MW Solar PV and 30MW, respectively. The company's CEO, Stefano Romanin, emphasizes the strategic expansion into Italy, a strong market with a favorable long-term outlook for renewable energy. The recent sale of Georgetown Solar has strengthened the company's capabilities to expand its project pipeline and fuel its growth strategy.